Clarification as to Carlsberg's statement of intention to delist Baltika as soon as possible

3/6/2012 9:55

Reference is made to the Carlsberg Group's full-year announcement on 20 February 2012 in which Carlsberg expressed its intent to make a voluntary offer for the remaining outstanding shares in Baltika and further stated that the necessary steps would be taken to delist Baltika as soon as possible. Carlsberg wishes to clarify the statement about the delisting of Baltika.

The Carlsberg Group will have Baltika delisted irrespective of a potential voluntary offer. The decision to delist will be made by Baltika's supervisory board (in which the Carlsberg Group has a qualified majority) and does not require approval by the general meeting of shareholders. Following such a board decision, Baltika will apply to the Russian stock exchange for the earliest possible delisting of the Baltika shares in accordance with the rules of the stock exchange.